AirAsia and Tata win bid for Indian budget carrier

[mhm]

A bid by Malaysian low-cost carrier, AirAsia, to set up an airline in India has won approval from the Indian government.

It would be the first foreign company to try to capture the rising demand in India's aviation sector.

AirAsia India would be a joint venture with the well-known Tata Group, based in Chennai in South India.

India's aviation industry, which has suffered major losses, was opened to foreign investment last year.
http://www.bbc.co.uk/news/business-21695576